Laycan clarification for S&P agreements

The English High Court decision in Vitol SA v JE Energy Ltd [2022] EWHC 2494 provides useful clarification as to the meaning of laycan under a sale & purchase agreement as well as on the interrelationship between the terms of a sale & purchase contract and its corresponding letter of credit. Alex Hudson, Director, CJC and Maria Azevedo of Ocean Network Express (Europe) Ltd summarise the case.

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Alex Hudson